If you struggle to know how much to save regularly to cover your year end tax bill, try this handy HMRC tool.

Just enter your net weekly or monthly profit (i.e income after taking off your expenses) and the tool will calculate how much you should put away in a savings account to budget for your tax and NIC.

It will not be a perfect solution as profits may vary week by week or month by month.  However you will be surprised just how much you can save by putting a little money aside, in a separate savings account, each week or month.  The year end tax bill will not seem so daunting and who knows you may even have some left over to reward yourself!